May 14, 2010

Jim Cramer on being confused by the short-sellers and those who hire them

Despite today's gigunda-, beautiful, incredible rally, with both the Dow Jones and the S&P 500 soaring beyond levels nobody imagined; despite the decision by European governments to go nuclear against the opponents of the euro, these short-sellers, who are leaning all over Greece and Spain and Portugal last week, tossing nearly a trillion dollars of firepower against the euro's enemies in one of the most amazing displays of force I have ever seen in my thirty years of investing; what happened?

The nattering naybobs of negativity and the chicken littles just would not stop all day. In short, probably because they are short, people who can find fault with anything and everything. I have one question for these people: how the heck do these people make money? Or how about a second question: who pays for that advice?

~Jim Cramer, "Embracing Change", Mad Money, May 10th, 2010

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